Get a zero percent cash advance on credit card check special offer. Pay 3-5% transaction charge to card company. Postpone the day of reckoning by paying debt with more debt and hope that something will turn up.

snork615 said: Get a zero percent cash advance on credit card check special offer. Pay 3-5% transaction charge to card company. Postpone the day of reckoning by paying debt with more debt and hope that something will turn up.

"This is for rewards and to meet spending reqs, not to cover a payment I am short on."

Well kind of a moot point since I can't use Chargesmart anyway, but honestly I think using prepaids and bluebird is a temporary solution since there seems to be a lot of push back on it recently. Was hoping there might be another way altogether, or another service like chargesmart that has a wider variety of payees.

tjguitar85

Senior Member - 1K

posted: Jan. 29, 2013 @ 1:18p

How could it ever be worth the fees?

gruntwork

Ancient Member

posted: Jan. 29, 2013 @ 1:27p

I have successfully paid using Williampaid once. Haven't tried after that, it took 10 business days to post. I think they mail a check unlike Chargesmart which is electronic. Not sure what recourse you might have if the check gets lost in the mail.

MilleniumBuc

Senior Member - 1K

posted: Jan. 29, 2013 @ 1:56p

Has anyone ever tried the Wel Far Go Bill Pay? When I pay my bills from my checking account, it always shows the credit card as an option for funding the payment.

dbond79

Senior Member

posted: Jan. 29, 2013 @ 3:26p

wvtalbot said: ...but honestly I think using prepaids and bluebird is a temporary solution since there seems to be a lot of push back on it recently.Why not enjoy it while it lasts? Every spend requirement met, while paying bills you had to pay anyway, is a win.

EugeneV

Ancient Member

posted: Jan. 29, 2013 @ 4:07p

Some HOAs and mortgage lenders accept credit and/or debit cards directly, although it is not common. It is an industry approved for PINless debit, and a small number of debit cards offer rewards for such transactions (PerkStreet does NOT).

dbond79 said: wvtalbot said: ...but honestly I think using prepaids and bluebird is a temporary solution since there seems to be a lot of push back on it recently.Why not enjoy it while it lasts? Every spend requirement met, while paying bills you had to pay anyway, is a win.

I will enjoy it while it lasts but I really would like to be proactive in this department instead of being reactive when the other foot drops.

MilleniumBuc said: Has anyone ever tried the Wel Far Go Bill Pay? When I pay my bills from my checking account, it always shows the credit card as an option for funding the payment.

Sorry, did not know it was posted, and preview posts it again.

bbmak

Member

posted: Jan. 31, 2013 @ 4:12p

I never know you can pay mortgage directly with a CC, but I know company that do that, but they charge a fee for it.

yOyOYoo

Senior Member

posted: Jan. 31, 2013 @ 6:37p

SUCKISSTAPLES said: Bluebird or other prepaid card bill pay

This is your best option.

nsdp

Dismembered Member

posted: Jan. 31, 2013 @ 7:58p

You do this and get rewards you fall outside the IRS guidance on what is nontaxable perks from your credit card. Cash Back or points on a tax deductable transaction are a reduction in the amount of interest you paid. Good way to attract an audit.

Glacierwolf

Dismembered Member

posted: Jan. 31, 2013 @ 8:12p

MilleniumBuc said: Has anyone ever tried the Wel Far Go Bill Pay? When I pay my bills from my checking account, it always shows the credit card as an option for funding the payment.

When we first converted to WF and they sent out the info on Bill Pay, it said that online bill payments using a CC were treated as cash advance transactions and subject to the CA interest rates effective from the moment the payment goes through. It's possible it's changed but I haven't seen a recent TOS from them.

glxpass

Senior Member - 6K

posted: Jan. 31, 2013 @ 9:32p

nsdp said: You do this and get rewards you fall outside the IRS guidance on what is nontaxable perks from your credit card. Cash Back or points on a tax deductable transaction are a reduction in the amount of interest you paid. Good way to attract an audit.Before blindly accepting the above opinion, do your own due diligence. Consult with a trusted tax advisor if necessary. Review this Private Letter Ruling:

While not legal precedent, most tax professionals agree that PLR's are an indication of how the IRS will treat similar situations. Note that this doesn't constitute legal or tax advice.

MilleniumBuc

Senior Member - 1K

posted: Feb. 1, 2013 @ 9:43a

Glacierwolf said: MilleniumBuc said: Has anyone ever tried the Wel Far Go Bill Pay? When I pay my bills from my checking account, it always shows the credit card as an option for funding the payment.

When we first converted to WF and they sent out the info on Bill Pay, it said that online bill payments using a CC were treated as cash advance transactions and subject to the CA interest rates effective from the moment the payment goes through. It's possible it's changed but I haven't seen a recent TOS from them.

Thanks. I never thought about using it to pay something until I saw this thread. Thanks for posting the original (and most likely current) TOS.

MilleniumBuc

Senior Member - 1K

posted: Feb. 1, 2013 @ 9:43a

Lets say the APR is 29% for cash advances and charged on the same day, at 1500 for a mortgage payment, you would get charged about 1.20 per day.You can then pay Wells Fargo CC directly from checking and it usually posts within 1 day. You would get 15 for 1% for a fee of 1.20 to 2.40 depending on float. Is there any other fee WF would charge?

makinbutter

Nerdy Member

posted: Feb. 1, 2013 @ 9:52a

MilleniumBuc said: Lets say the APR is 29% for cash advances and charged on the same day, at 1500 for a mortgage payment, you would get charged about 1.20 per day.You can then pay Wells Fargo CC directly from checking and it usually posts within 1 day. You would get 15 for 1% for a fee of 1.20 to 2.40 depending on float. Is there any other fee WF would charge?

are cash advances reward eligible?

MilleniumBuc

Senior Member - 1K

posted: Feb. 1, 2013 @ 9:57a

hebron1427 said: MilleniumBuc said: Lets say the APR is 29% for cash advances and charged on the same day, at 1500 for a mortgage payment, you would get charged about 1.20 per day.You can then pay Wells Fargo CC directly from checking and it usually posts within 1 day. You would get 15 for 1% for a fee of 1.20 to 2.40 depending on float. Is there any other fee WF would charge?

are cash advances reward eligible?

Don't know. I'm guessing it probably is not eligible. Never tried one.

Oh well. So much for that theory.

EugeneV

Ancient Member

posted: Feb. 1, 2013 @ 1:48p

Of course they are not. Good old Citi Dividend used to give 5 reward dollars per cash advance, but with 3-4%, besides daily interest, you are looking at $45-$60 for $1500 payment. Still wanna try that?

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